The following information is available for Updharmadown Corporation for the current month: Started this month 120,000 units Beginning WIP (3/5 incomplete) 11,250 units Total spoilage 3,000 units Abnormal spoilage Ending WIP (30% to be done) 1,350 units ? units Transferred out 108,750 units Beginning Work in Process Costs: Material P15,600 Conversion 20,700 Current Costs: Material P180,000 Conversion 525,915 All materials are added at the start of production and the inspection point is at the end of the process. The costs and number of units have a high level of variability. 12. Total costs of units transferred -out 13. The amount of work in-process, end 14. Cost of abnormal loss units

Q: In addition, Muscat Cement Factory had the following production data for 3 months: WIP (End) Units %…

A: Option “d” is correct. Reason: Equivalent Units for Conversion Costs (March) as follows:

Q: In June of the current year, Department 2 (last department) received 80,000 units from Department 1.…

A:

Q: The cost data and production data for Beth Company for the month of August were as follows: Cost…

A: Process costing is a method of cost accounting, which is used where there is continuous production…

Q: The accountant at Calgary Mobile needs to close the books at the end of January ,using the following…

A:

Q: added at the start of production. Texas started 12,500 units into production and had 4,000 units in…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: QWE Corporation has the following information available for March of the current year. Beginning…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Irfan Inc, instituted a new process in October, during which it started 10,000 units in Department…

A: Formula: Equivalent units = Units to complete + completed ending work in progress Sum of units to…

Q: Ellery Company instituted a new process in October, 2016. During October 10,000 units were started…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: XYZ Company uses a weighted average process costing system and started 30,000 units this month. XYZ…

A: No. of units completed and transferred =  beginning Work in Process Inventory + units started -…

Q: Sam Ltd uses process costing and the FIFO method of valuation. The following information for last…

A: Process costing is a method of cost accounting, which is used where there is continuous production…

Q: For the month of May, 1999, PACMAN Corporation’s production records disclosed the following data:…

A: Process Costing: It is used when there is the mass production of similar products, the production is…

Q: Materials costs of P200,000 and conversion costs of P214,200 were charged to a processing department…

A: Process Costing : Process costing is very important method between the various methods of…

Q: Reiner Company uses a FIFO process costing system. The company had 5,000 units that were 60 percent…

A: Since the material is added at the beginning of the process; therefore no. of units started during…

Q: Ellery Company instituted a new process in October, 2016. During October 10,000 units were started…

A: Working Notes :- 1).       Equivalent units of production:- particulars Units Materials (7000…

Q: Assume the following production data taken from the records of CONEY Manufacturing Co: Transferred…

A: Equivalent units means number of units that is taken as completed for the calculation of cost per…

Q: A manufacturer uses process costing. It has one direct material cost pool and one conversion cost…

A:

Q: Crane Company decided to analyze certain costs for June of the current year. Units started into…

A: Conversion cost refers to the cost incurred by the entity to convert the raw material into the…

Q: Raw and In Process account as of the end

A: Raw in a process is a term that is used to describe the goods partially completed and turned from…

Q: Virgo Company completed 280,000 units of Product A and has 10,000 units which were 50% complete as…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: The following information is available for ABC Company for April: Started this month 80,000 units…

A: Units started: 80,000  Units completed: 72,500

Q: Primo Products transferred 15,000 units to one department. An additional 5,000 units were in…

A: Equivalent Units of Production is the physical count of units manufactured in an accounting period…

Q: In June of the current year, Department 2 (last department) received 80,000 un the end of the month,…

A: Equivalent Units:

Q: The following data were taken from the records of Winner Company for the month of October: Work in…

A: the material cost is the cost that has been incurred in production of the goods.while the conversion…

Q: Golding's finishing department had the following data for July:   Transferred-In   Materials…

A: Process costing is a costing method that is employed by the firms involved in the production of…

Q: Units started 100,000 20,000 14,500 97,000 Work in process, beginning (35% complete) Work in…

A:

Q: The following information is available for Jones Company for April: Started this month 80,000…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: The following data were taken from the records of Winner Company for the month of October: Work in…

A: Under average costing it is assumed that whole of opening inventory is completed during the period,…

Q: The following information relates to the Blending Department of Monster Inc. for the month of March:…

A: Step 1 Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for…

Q: The following info aiapUPAP SL UOI Started this month 80,000 units Beginning WIP (60% incomplete)…

A: Process costing: It is one of the cost accounting techniques used for the calculation manufacturing…

Q: Units started Work in process, beginning (35% complete) Work in process, end (70% complete)…

A: Equivalent unit of production is also written as EUP. It is used in process costing. It is…

Q: The Painting Department of Garmer Marufacturing Company ha the following procuction and…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: The following data were taken from the records of Winner Company for the month of October: Work in…

A: 1. Under weighted average method: Equivalent units of production = Units completed and transferred…

Q: The following information is available for Aquaman Corporation for the month of February: Started in…

A: Since the company follows FIFO method, the 290,000 units completed will include the 30,000 units of…

Q: The following data were taken from the records of Winner Company for the month of October: Work in…

A: Under FIFO method, it is assumed that only remaining portion of opening inventory is completed…

Q: Winter Company reported the following for the most recent month: Physical Units Beginning work in…

A: solution using FIFO method equivalent unit completed from the beginning inventory in current period…

Q: Amerisama Company makes a variety of products. Its Texturing Department reports the following…

A: Total conversion cost incurred = Direct labor + Manufacturing overhead = $55,000 + $80,000 =…

Q: ne of the current year, Department 2 (last department) received 80,0 nd of the month, it completed…

A: Equivalent Units:

Q: Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added…

A:

Q: Using the FIFO method, what are the cost assigned to units transferred out and units in ending work…

A:

Q: Winter Company reported the following for the most recent month: Beginning work in process (60%…

A:

Q: The following information is available for Lima Corporation for the current year (SEE PICTURE…

A: Equivalents units of production concept comes in picture when ending or beginning units are not…

Q: ANJOSE had the following production data for the month of July 2021: Work in process, beginning-…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: In June of the current year, Department 2 (last department) received 80,000 units from Department 1.…

A:

Q: In March, Kelly Company had the following unit production costs: materials $ 10 and conversion costs…

A: Work in process inventory is that inventory which is not completely processed or completed. Some…

Q: Maynard Inc. manufactures desks. The following data was given for production in February: units,…

A: Equivalent units represent the whole units on which the costs have been incurred. For example: 10…

Q: Angel Burgers Company has the following information for July: Units started 100,000 units Beginning…

A: Equivalent units of production  = No of WIP units x % of completion    Abnormal loss are taken as…

Q: NUBD Co. has the following information for October: Unts started Beginning Work in Process: (35%…

A: Process costing is a method of cost accounting, which is used where there is continuous production…

Q: The following data were taken from the records of Winner Company for the month of October: Work in…

A: Equivalent Units of Production: As defined by the International Accounting Standards (IAS), an…

Q: M&M had the following production data for the month of July 2021: Work in process, beginning- 2,000…

A: Equivalent units are those units in production which is derived by multiplying the units by the…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.